Capitec is challenging banking industry norms with its newly launched SimpleFees campaign. The initiative is built around an unforgettable ‘1, 2, 3, 6, 10’ fee structure and a heartwarming jingle sung by the children of Capitec employees, making banking fees transparent and easy enough for anyone, even a child, to understand and sing about.
Francois Viviers, Group Executive: Marketing and Communications at Capitec, said the campaign responds directly to South African Reserve Bank Research, which highlights that while bank account ownership is high at 91%, a concerning 33% of account holders use their accounts merely as ‘mailboxes,’ withdrawing all funds immediately upon deposit.
‘Our client feedback reveals that for too long, high banking costs and complex fee structures have acted as a hidden tax on financial participation. This issue extends beyond fees to essential services like insurance, data, and airtime, eroding South Africans’ trust in these various sectors. When South Africans cannot easily understand or predict the cost of a transaction, they often don’t fully grasp the value they are receiving either.’
In response to the country’s need for clarity and reaffirming its founding principles, Capitec consolidated over 30 distinct transaction fees into straightforward price points. The bank launched a nationwide campaign on 14 April across television and radio platforms to bring this message of simplicity and clarity to life.
At the heart of the campaign is a catchy and heartwarming jingle performed by an unexpected choir – the children of Capitec employees. This unique and joyful approach transforms a typically dry financial subject into something memorable, relatable, and deeply human, powerfully underscoring the core message that Capitec’s fees are now so simple that even a child can understand and sing about them.
‘We are driven by the purpose of making a meaningful difference, and we wanted to strip banking back to its essentials so our clients know what they pay for. This campaign reinforces the fundamentals of simplicity, transparency, and affordability that Capitec is known for. By casting our own employees’ children, we deliver the message effectively and celebrate our Capitec community, their families, and the trust they place in our brand,’ added Viviers.
Viviers said Capitec believes that genuine financial inclusion extends beyond mere account ownership to encompass meaningful participation and active usage. ‘By making banking fees easier to understand and predict, we hope to encourage South Africans to engage more confidently with financial tools, fostering better financial health and contributing to broader economic resilience.’
Viviers concluded, ‘This initiative underscores Capitec’s position as a bank focused on empowering South Africans through understandable, affordable banking solutions. The ‘1, 2, 3, 6, 10’ fee structure and the accompanying campaign signal Capitec’s continued commitment to being the bank for all, making managing money clearer and more accessible. Capitec’s approach challenges various sectors to adopt similar transparency, fostering competition that ultimately delivers better value for all South Africans.’
CAPITEC
www.capitecbank.co.za
